According to the latest research to be released by Economist Impact and DP World at the World Economic Forum, business leaders remain generally optimistic about 2024, driven by the belief that technology will transform the efficiency and resilience of supply chains, according to global TMT. At the heart of this sentiment is the widespread use of AI, with 98% of executives already using AI to revolutionize at least one aspect of their supply chain operations. Companies are looking to further increase their adoption of technology this year.

Big tech companies are far outspending venture capital groups in generative AI startups in 2023, and these established giants are using their financial resources to dominate the highly sought-after space, according to Global TMT. The latest data shows that Microsoft, Valley and Amazon have struck a series of blockbuster deals that account for two-thirds of the $27 billion raised by emerging AI companies in 2023.

According to Global TMT reports on October 7, an early-stage startup backed by the private office of billionaire entrepreneur Bill Gates has recently launched a chatbot Pix that can provide users with targeted information on books, movies, Personalized recommendations for TV shows and podcasts. The chatbot uses OpenAI's natural language processing technology and will learn the user's preferences over time. The service will be free to users.

According to Global TMT reports, Accenture's latest financial report shows that the company's total global revenue in fiscal year 2023 (ending August 31, 2023) reached US$64.1 billion, a year-on-year increase of 4% and 8% respectively in U.S. dollars and local currencies. Adjusted operating profit for fiscal year 2023 reached US$9.87 billion; new orders were US$72.2 billion. Divided by business, in fiscal year 2023, Accenture's consulting-related business contributed US$33.61 billion in revenue, and managed services-related business revenue was US$30.5 billion. In the past six months, customer project orders for generative artificial intelligence have reached $300 million.

According to Jinshi’s report on August 1, the strategy team of Bank of China Securities issued a research report saying that entering August, the phased bottom of A shares has appeared, and attention should be paid to the layout opportunities of the main line of AI. The market has priced too pessimistic expectations on the fundamentals in the short term, and the current downside space is limited. With the gradual release of policies, the market is expected to get out of the low point of sentiment and usher in valuation restoration. In terms of industry configuration, the main line of AI may have stabilized, and the next layout is at the right time. Against the backdrop of weak domestic economic recovery, low inflation, and strong overseas industrial trends, combined with the previous micro-market structure and trading status of underestimation of TMT technology and under-allocation of institutions, there is sufficient motivation and room for AI valuation restoration.

According to Jinshi’s report on June 30, the China Securities Research Report believes that the media sector has undergone substantial adjustments last week, mainly due to the large increase in the sector in the early stage and the impact of some companies’ shareholding reduction announcements, but the industry is still developing rapidly. We should continue to pay attention to media investment opportunities from two dimensions: 1. AI applications continue to land: the demand for upstream computing power is strong; and from the perspective of valuation, compared with other TMT sectors or leading companies, the media as a whole is still relatively low (about 30 x), and recent domestic AI applications continue to land. 2. The media itself has entered the summer peak season: the Dragon Boat Festival holiday movie &_ travel has resumed for more than 19 years, new game products are scheduled to be vigorous, and entertainment content consumption has entered the traditional pro-cyclical cycle.

According to a June 19 report from the Science and Technology Innovation Board Daily, Lu Wei, an analyst at Minsheng Securities, pointed out that at this stage, AI is expected to replicate the path from the supply side of TMT in 2010-2012 to the application side of TMT in 2013-2015. The TMT bull market in 2013-2015 was based on the fact that in 2010-2012 after the release of the iPhone 4 in 2010, the penetration rate of smartphones, the infrastructure of the mobile Internet, rapidly increased to around 50%, and the infrastructure of this round of AI market took the lead in concentrating The infrastructure industry chain on the AI supply side, that is, large models, computing power, and data; in the early stage of the popularization of large models from February to May, the total market value of Nvidia’s U.S. stocks exceeded one trillion U.S. dollars, and continued to hit record highs, which reflected computing power The clear path of the company continues to be recognized by the public. The essence is that the computing power side with high certainty is the first to be realized. After the software first defines all the foundations and generates computing power hardware requirements, it is expected to move towards the transformation and application of various IoT terminals in 2013-2015. new stage.

According to PANews news on June 12, according to Blue Whale TMT, recently, there have been rumors that Xiaohongshu officially issued an announcement on May 4, saying that the platform will suspend "R-digital collections" (including R-digital works, R- virtual goods of digital avatars), and at the same time close the publishing and editing rights of this category of goods. Merchants are required to conduct self-inspection before May 15 and remove related products by themselves; and announced in the announcement that the rules will come into effect on May 18. In this regard, the manual customer service of the professional account denied the content of the rumors, saying: it is supported, and the recommended category of uploaded products is Wenwan/handicraft-wenwan hobbies/collections-collection maintenance/identification tools. After checking, enter "digital collection" in the search bar and query, you can see that there are still a large number of digital collection products on sale, and there is no impact of the suspension of sales and release mentioned in the announcement. In the "Little Red Book R-Space Laboratory" account, you can see that a large number of digital collections are still on sale, but the official account was last updated on April 26, compared to the account's previous update frequency of about three days. Said that this time the suspension lasted more than a month.

According to Shanghai Securities News, Yao Cheng, co-director of JPMorgan Asia TMT industry research, shared that generative artificial intelligence is undoubtedly an epoch-making product, and its emergence has led to the formation of a new pattern of underlying technology and industrial ecology. In this round of industrial innovation, there is not much difference between China and overseas at the level of large-scale models. The key lies in the breakthrough of underlying hardware capabilities. "I think generative artificial intelligence is as disruptive to the industry as smartphones or electric vehicles, and may even be more important than them."

According to the Shanghai Securities News, the continued strength of the AI sector has led to a "turnaround" for many funds. In the past week, the net value of more than 100 funds has rebounded by more than 10%. At the same time, from the analysis of the difference between the estimated net worth and the actual net worth, some fund managers may have adjusted their position structure, TMT is still their main direction of increasing positions, and the relatively low pharmaceutical sector has also begun to attract more and more fund managers. look. In addition to the hot AI concept stocks, institutions have also increased their attention to the pharmaceutical industry with relatively low valuations.

According to the Jinshi report, China Merchants Securities Research Report on May 24 stated that the current round of AI + market is expected to replicate the "Internet +" market in 2013. The TMT bull market driven by "Internet +" in 2013 mainly presents three stages, benefiting from The support of policy and performance The media sector led the rise first, and then showed the characteristics of "soft cut and hard". The upstream communication, electronics and semiconductor companies benefited from the strong demand from the downstream, with both volume and price rising, and the valuation market at the end of the last bull market . At present, AI + is still in the first half of the new technology introduction period, and has not yet fully developed new business, new models, and new product production. Based on this, we believe that the "AI +" market is still in its infancy.

According to a report by the Securities Times on May 13, the "AI digital clone" of Gu Jia, chief media officer of China Merchants Securities Media and co-leader of the TMT group, officially met with the public on May 12. This AI digital avatar has Gu Jia's voice and appearance, as well as multi-modal interaction and generation capabilities derived from large models. Press conferences, research report interpretations, analyst conference calls, etc. wherever customers need. Starting next week, Gu Jia will share the weekly media and Internet industry research report through her digital avatar. I learned from technical people in the industry that theoretically all the information of Gu Jia's AI digital human comes from Gu Jia's own research reports, and can only output information integrated from related research reports. "The only change is that the production form is more efficient." As a strictly regulated industry, securities firms are also actively working to formulate corresponding use procedures and specifications to ensure that digital people can represent analysts themselves and provide professional services to the market legally and compliantly.